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John Arnold, a Houston-based billionaire, has been criticizing donor-advised funds (DAFs) in a way that shook the world of philanthropy.
In an interview with Arnold, Theodore Schleifer of Vox, asks effective questions that have stirred up philanthropic organizations.
Arnold says that he is willing to talk about DAFs because he found out that legacy foundations, when they are managed by staff and board structure, everything gets more bureaucratic. He adds there is also the other problem with the idea of "giving from the grave".
Arnold points out that the DAF issue is one of the areas where the criticism is valid. He says that people are getting tax advantages by putting money into the DAFs, and they're not "abiding by the spirit of the regulations about how that money is to be put back into society."
Arnold also argues that each DAF account should meet that minimum 5 percent spend and notes down possible ways to enforce this.
Arnold also responds to today's new conversation around billionaire power in politics and to what extent public policy and role of government can provide solutions to help. Read the Entire Article
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
Foundation: Rockefeller Foundation, Winthrop Rockefeller Foundation
The University of Arkansas at Pine Bluff is honoring five people for their "extensive community involvement, philanthropic endeavors, and exemplary service to the community," per a release. The...more
When Max and Allen Low were kids, their parents would ask them to spend a few minutes picking up garbage. "This became a habit which continued into adulthood, and we still make time for that...more
Foundation: Whitefish Community Foundation
"Through our collective efforts, we're not just providing financial support, but we're investing in Montana's vitality and resilience." That from Mike Smith, president of Glacier Bank, which...more
Foundation: Community Foundation of Broward
Ten nonprofit organizations in South Florida are getting a total of $300,000 in grants thanks to a new fund meant to fight discrimination in the LGBTQ community. The Our Fund Foundation and the...more
"It's more than just food and water and shelter, we now know that as a society, we now know that as a society." That's what an Alaska school board member has to say about a bill that would...more
If you're looking for a getaway from the city that never sleeps, India's Goa is the place for you. But if you're looking for a getaway from the city that never sleeps, Goa is the place for...more
When Gladys Markus graduated from her accounting course at Nigeria's Plateau State University last year, she had one thing on her mind: Starting a food business. The then-22-year-old had been...more
"People used to go swimming in it, and then how grateful [they] are for the work that we're doing in conjunction with the government and other organizations," Mike Smith tells This Week in...more
"A nutritious breakfast isn't just about filing empty stomachs; it's about nourishing young minds." That's what Vicki Cutler, a branch manager at Prospera Credit Union in British Columbia, had to...more
Devin Booker is making good on his promise to give $2.5 million to Arizona nonprofits over the next five years. The NBA player and the Phoenix Suns have announced the recipients of the 2023-24...more
Philanthropy News from...
Chester County Community Foundation
Whitefish Community Foundation
Community Foundation of Broward
Bloomberg Philanthropies
El Paso Community Foundation
Rhode Island Foundation
Porter County Community Foundation
Luzerne Foundation
Community Foundation of Western North Carolina
Community Foundation of Southern Indiana
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